CIBC Issues Pessimistic Forecast for Rogers Communications (TSE:RCI.B) Stock Price

Rogers Communications (TSE:RCI.B - Free Report) NYSE: RCI had its price target decreased by CIBC from C$76.00 to C$55.00 in a research report sent to investors on Thursday,BayStreet.CA reports. CIBC currently has an outperform rating on the stock.

A number of other equities research analysts have also issued reports on the stock. UBS Group reduced their target price on shares of Rogers Communications from C$66.00 to C$63.00 in a report on Tuesday, April 1st. National Bankshares upped their price objective on Rogers Communications from C$52.00 to C$53.00 and gave the stock an "outperform" rating in a research report on Monday, June 30th. Royal Bank Of Canada reduced their price objective on Rogers Communications from C$57.00 to C$54.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 9th. Canaccord Genuity Group lifted their target price on Rogers Communications from C$44.00 to C$47.00 and gave the company a "buy" rating in a report on Monday, June 9th. Finally, TD Securities boosted their target price on Rogers Communications from C$56.00 to C$60.00 and gave the stock a "buy" rating in a research note on Tuesday, June 24th. Three analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of C$55.11.

Rogers Communications Stock Up 0.4%

Shares of RCI.B traded up C$0.16 during mid-day trading on Thursday, hitting C$44.04. 844,048 shares of the company's stock were exchanged, compared to its average volume of 1,972,447. The stock's 50-day moving average is C$37.25 and its 200-day moving average is C$38.89. The company has a debt-to-equity ratio of 436.50, a quick ratio of 0.58 and a current ratio of 0.65. Rogers Communications has a fifty-two week low of C$32.42 and a fifty-two week high of C$56.55. The company has a market cap of C$18.57 billion, a price-to-earnings ratio of 27.02, a P/E/G ratio of 0.32 and a beta of 0.62.

About Rogers Communications

Rogers is the largest wireless service provider in Canada, with its more than 10 million subscribers equating to one third of the total Canadian market. Rogers' wireless business accounted for 60% of the company's total sales in 2021 and has increasingly provided a bigger portion of total company sales over the last several years.